Four-Bedroom
For Sale
$250,000
Pending
4 Lathrop Ave, Binghamton, NY 13905
Two independent residences feature private kitchens, living rooms, and full bathrooms.
Property Size2,470 SF
Days on Market78
Property Features for 4 Lathrop Ave
General Information
Standard status
Pending
Size
2,470 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 4BR/1BA
Multifamily Units
2
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Serhant LLC
Listed By:
Chase Pacelli
(845) 545-6192
Source:
Searchhomesinlongisland
Added: Jul 20
Changed: Oct 1
Last Checked: Oct 4 at 10:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Serhant LLC
Investment Insights
Based on property information with market context.
This duplex at 4 Lathrop Ave in Binghamton, NY is arranged as two separate residential units. Each residence provides 4 bedrooms, 1 full bathroom, a private kitchen, and its own living room, creating distinct household spaces within the same building.
Binghamton University is approximately 11 minutes away. The surrounding area includes shops, restaurants, bakeries, coffee shops, the Broome County Regional Farmers Market, the Downtown Arts District, riverfront parks, museums, golf courses, hiking trails, and other year-round recreational and entertainment options.
The property’s two-unit configuration supports several occupancy arrangements, including living in one residence while renting the other or accommodating multigenerational households.
Binghamton University is approximately 11 minutes away. The surrounding area includes shops, restaurants, bakeries, coffee shops, the Broome County Regional Farmers Market, the Downtown Arts District, riverfront parks, museums, golf courses, hiking trails, and other year-round recreational and entertainment options.
The property’s two-unit configuration supports several occupancy arrangements, including living in one residence while renting the other or accommodating multigenerational households.
Key Highlights
- Each unit includes 4 bedrooms and 1 full bathroom
- Private kitchen and living room in both residences
- Duplex configuration with two independent residential units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,071
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$441,420
$441.4K
Cap Rate 7%
$315,300
$315.3K
Cap Rate 9%
$245,233
$245.2K
Market Conditions
NOI Build-Up for 2,470 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.1K $13.80/SF
− Vacancy
−$2.6K −$1.04/SF
EGI
$31.5K $12.77/SF
− OpEx
−$9.5K −$3.83/SF
NOI
$22.1K $8.94/SF
Area
Broome County, NY
Vacancy
7.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$441,420
Cap Rate 7%
$315,300
Cap Rate 9%
$245,233
Alternative Uses
Best Use
Multifamily LT 5
$315.3K
$275.9K – $367.9K
NOI $22,071 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$294.0K
$257.2K – $343.0K
NOI $20,577 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$612.8K
$536.2K – $714.9K
NOI $42,895 @ 7.0% cap · market cap 17.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 13905, NY
27,672
Population
13,774
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
28.2 sq mi
ZIP Area
981
Density / Sq Mi
$53,757
Median Household Income
$30,359
Median Earnings
$993
Median Rent
$137,700
Median Home Value
Check the figures for this property
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two independent residences feature private kitchens, living rooms, and full bathrooms.
Where is this duplex located?
The property is located at 4 Lathrop Ave Binghamton, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Each unit includes 4 bedrooms and 1 full bathroom; Private kitchen and living room in both residences; Duplex configuration with two independent residential units
